Alibaba Group (NYSE:BABA) Stock Rating Reaffirmed by Loop Capital

Alibaba Group (NYSE:BABA)‘s stock had its “buy” rating reiterated by analysts at Loop Capital in a report issued on Thursday, Benzinga reports. They presently have a $115.00 price target on the specialty retailer’s stock. Loop Capital’s price target would suggest a potential upside of 38.02% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Bank of America upped their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Susquehanna dropped their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $83.32 on Thursday. Alibaba Group has a 12-month low of $66.63 and a 12-month high of $96.68. The company’s 50 day moving average price is $77.81 and its two-hundred day moving average price is $76.52. The firm has a market cap of $211.42 billion, a PE ratio of 19.42, a PEG ratio of 0.48 and a beta of 0.32. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same period in the prior year, the company posted $2.47 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts predict that Alibaba Group will post 6.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA increased its stake in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares in the last quarter. Sanders Capital LLC increased its position in shares of Alibaba Group by 5.4% in the 4th quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock valued at $1,228,398,000 after acquiring an additional 819,019 shares during the period. FIL Ltd raised its stake in Alibaba Group by 10.2% in the 4th quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock worth $823,986,000 after acquiring an additional 983,842 shares during the last quarter. H&H International Investment LLC lifted its position in Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after acquiring an additional 1,918,730 shares during the period. Finally, Norges Bank purchased a new stake in Alibaba Group during the 4th quarter valued at about $329,367,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.